Automotive Battery Thermal Management System Key Companies Analyzed:
LG Chem (South Korea), Continental (Germany), GenTherm (U.S.), Robert Bosch (Germany), Valeo (France), Calsonic Kansei (Japan), DANA (U.S.), Hanon Systems (Korea), Samsung SDI (Korea), Mahle (Germany), VOSS Automotive (Germany), and CapTherm Systems (Canada).
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The factors that are responsible for the growth of automotive battery thermal management system market during the forecast period are rise in awareness of electric vehicles, government initiatives in tax exemption, investment in charging infrastructure, and subsidies offered to purchase electric vehicles. Original Equipment Manufacturers (OEM) are developing cost effective and light weight battery thermal management systems, which can improve the overall performance of the vehicle. The market for automotive battery thermal management system is projected to grow at 16% CAGR during the forecast period.
On the basis of region, the market is segmented into America, Asia Pacific, Europe, and Rest of the World. In Asia Pacific region, there is an increase in the production of electric passenger vehicles in countries such as China and Japan. In electric vehicles, the automakers tend to manufacture energy efficient technology in order to minimize the heat dissipation. This growing demand for energy efficient technology in newer vehicles will result in the growing demand for battery thermal management system in vehicles.
The growing demand for passenger vehicles with upgraded battery system will boost the overall market of battery thermal management system. This will drive the market in Asia Pacific region. In America, there are few players, such as Tesla, which are constantly investing on electric driven vehicles. Manufacturers are facing different challenges in terms of operating performance, such as low efficiency, shorter lifespan, high cost, and higher scrap rates of batteries.
However, potential investment made by automotive component manufacturers is shifted towards the Asia Pacific region, including China and Japan. Japanese electric cars cover the larger market in America. The highest selling car in America is the Nissan Leaf, followed by Chevrolet Volt, Tesla Model S, and Toyota Prius Plug-in. The rise of Chinese and Japanese electric manufacturers, such as BYD, Nissan, Mitsubishi, and BAIC Motor Corp, has boosted the development of automotive battery management thermal system.
Scope of the Report:
This study provides an overview of the Global Automotive Battery Thermal Management System Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The scope of the study segments the global automotive battery thermal management system market by its technology, propulsion, battery capacity, vehicle type, and REGION.
- Forced Air System
- Liquid System
- Phase Change Material (PCM) System
- Thermo Electrics
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Fuel Cell Vehicle
By Battery Capacity:
- 0 – 200 KWh
- 200 – 500 KWh
- More than 500 KWh
By Vehicle Types:
- Passenger Vehicles
- Commercial Vehicles
- Asia Pacific
- Rest of the World
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